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Lock-In packages tie you down contractually to prevent you from switching banks for the duration of the contract. Lock-In periods typically vary from 1-5 years. The longer your Lock-In period, the lower the interest rates.<br /><br />

If you are buying this property for investment and intend to sell it within the next 3-5 years, you should not take a Lock-In package because breaking the contract can result in stiff penalties.
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